Mumbai: The Securities and Exchange Board of India (Sebi) on Friday proposed extending the deadline for companies to report their consolidated results, to within two months of the quarter-end from one month now.
At present, firms can submit audited or unaudited quarterly and year-to-date stand-alone financial results to the stock exchanges before the end of each quarter. Companies with subsidiaries have the option to also submit consolidated results within the one month.
“It is proposed that the existing timeline may be extended to two months for those companies which opt to submit to stock exchanges the consolidated financial results in addition to standalone financial results,” the regulator said.
Sebi said it had received representations from firms having global operations that faced difficulties in preparing such statements within one month of the quarter-end.